Italy's economy ministry announced on Tuesday that an informal agreement had been reached with the European Commission over its budget plan.

Italy's new government, comprised of the far-right Lega party and the anti-establishment Five Star Movement, had sought to implement sweeping budget measures that included cutting taxes and establishing universal income. With the proposal Italy was expected to breach EU budget deficit limits, risking punitive action from the bloc.

“As a realist who sees the future, it is all but a certainty the DIRE movement will supplant the FIRE movement as the retirement path of choice,” Dogen predicts.

“If you are wise, you will embrace the realities of DIRE as the world heads south,” he said “Giving priority to caring for your family and delaying a super early retirement is the responsible thing to do.”

A mining company controlled by Glencore PLC, and some of its current and former executives and directors, agreed to pay more than $22 million to settle Canadian allegations that they hid the risk of doing business with an Israeli businessman close to the Congolese president, The Wall Street Journal reported, citing a person familiar with the matter.

The expected settlement between Canada's biggest stock-market regulator and Toronto-listed Katanga Mining Ltd. is related to the company's business activities in the Democratic Republic of Congo, the person said.

A Glencore GLNCY -3.44% PLC-controlled mining company and some of its current and former directors and executives have agreed to pay more than $22 million to settle Canadian allegations that they hid the risks of doing business with a controversial Israeli businessman closely linked to Congolese President Joseph Kabila, according to a person familiar with the matter.

The OSC is expected to allege that Katanga breached Canadian securities law by not disclosing the risks it faced by relying on Mr. Gertler to maintain relationships with Mr. Kabila, Congo’s president, according to the person familiar with the matter.